98261 Property Tax Rate

Property owners in ZIP code 98261 (Lopez Island, Washington) pay a median of $4,344/year in property taxes on homes valued at $700,900. This translates to an effective tax rate of 0.62%, which is 19% below the Washington state average of 0.77%.

The monthly property tax burden for a median-valued home in 98261 is approximately $362, which factors into escrow payments on mortgages. This ZIP code is located within San Juan County. This is $752 more than the Washington average of $3,592/year.

Compared to similar ZIP codes in Washington, 98261 has higher property taxes. ZIP codes with similar effective rates include 99148 (0.62%) and 99114 (0.62%).

In Lopez Island, property taxes represent approximately 5.5% of the median household income of $78,871, providing context for the relative tax burden on homeowners in this area.

Washington does not cap property tax growth; San Juan County Assessor revalues your home to fair market value at sale with no statutory annual increase limit. San Juan County qualifies seniors (61+) and disabled homeowners with income around the state threshold (approximately $40,000–$45,000) for the Senior/Disabled Property Tax Exemption, which exempts a portion of home value from taxation. Submit your exemption application to the San Juan County Assessor by March 31 to activate the benefit and reduce your annual tax obligation.